East Lindsey could benefit from a share of £110m aimed at boosting the local economy.
Greater Lincolnshire Enterprise Partnership has been awarded £110m from the Government’s European Regional Development Fund (ERDF) and the European Social Fund (ESF), and East Lindsey could benefit.
The Government revealed that the county would be awarded the cash for 2014-2020 to stimulate economic growth and jobs in the area.
The money will be available through a bidding process and will be used to provide funding towards training schemes (particularly for those that are unemployed), support for local businesses and to enable economic development projects, such as the creation of much-needed business premises and other infrastructure.
East Lindsey District Council’s Portfolio Holder for Economic Regeneration, Councillor Craig Leyland, said: “We welcome news of this substantial cash injection for the county which is great news in the current economic climate and could benefit East Lindsey.
“The money could make a real difference to some of our rural communities in terms of jobs and business development. A cash injection towards economic development projects and investment in infrastructure would be greatly welcomed.
“When we find out more details of how the money will be made available we will be encouraging business and communities to put together bids.”
The District Council will look to support the work of the Greater Lincolnshire Enterprise Partnership in making best use of this opportunity for local communities. It is anticipated that eligible local projects will be able to begin to bid for a share of the funding from spring 2014.